Prepare for a rough ride: Costs rise as CBK props up struggling shilling

CBK’s newly appointed governor, Patrick Njoroge, announced last week that the indicative lending rate, the Central Bank Rate (CBR), had been hiked by 1.5 per cent to 11.5 per cent.

Dhillon* arrived at the Jomo Kenyatta International Airport from a work assignment last week to a very welcome surprise.

He walked into a forex bureau at the arrivals terminal and handed the teller a $100 bill he had left over from his travels so he could get shillings to pay for a cab home.